Update: FICO2 experiment (is it worth it?)

[Anonymous]

@Calyx, FICO 2 and FICO 8 are very different when it comes to a number of accounts with a balance. FICO 2 is much more sensitive.

Don’t quote me but I think the line there is 20% of revolvers. It may be accounts, I don’t know. If the AU card you are on is PIF, why don’t you have her PIF before the reporting date? Then it would also show zero. But then it looks as if you said the AU was installment? So I’m not quite sure?

I would also note that even with my clean aged thick file, I have received less than the best rates, even with 800s for my scores and <1% utilization, so optimizing scores can help. But as we know it depends on lender YMMV. But if they are using version 2, they are tough. Is it Amalgamated Bank of Chicago?

@Inkco If I’m understanding correctly, you’re wondering why a HP for auto financing and a HP for a credit card from John Deere are not de-duplicated.

Unless I’m misunderstanding, that’s because one HP was for an installment loan while the other one was for a revolving line of credit. Mortgage inquiries and auto inquiries are de-duplicated, with either a 14 or 45 day window depending on the version.

[calyx]

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@Anonymous wrote:
@Calyx, FICO 2 and FICO 8 are very different when it comes to a number of accounts with a balance. FICO 2 is much more sensitive.

Don’t quote me but I think the line there is 20% of revolvers. It may be accounts, I don’t know. If the AU card you are on is PIF, why don’t you have her PIF before the reporting date? Then it would also show zero. But then it looks as if you said the AU was installment? So I’m not quite sure?

I would also note that even with my clean aged thick file, I have received less than the best rates, even with 800s for my scores and <1% utilization, so optimizing scores can help. But as we know it depends on lender YMMV. But if they are using version 2, they are tough. Is it Amalgamated Bank of Chicago?

I hate asking for anything re: the AU card, because I'm just happy to be on it, and don't wish to overstep (though there might be some sweet talking going on if it comes down to it).   AU card is Chase, so asking for an early payment only really needs to be a couple of days before apping, if I want to push it.

The AU isn't an installment - my other revolver carrying a balance is a 48mo/0% card, so I'm paying that one off over time (it's currently at 8.6%).   I do have 2 installments, but they're pretty boring (student loan @ 65% util, auto @ 90%, aggregate @ 76%, of course, all will be lower @ future app date).

I know that FICO2 is way touchier than FICO8 on utilization/number of cards being used - currently my FICO 2 is 711, which isn't too terrible, but I'd like it to be better.     20% of revolvers would be great, since I can make that happen;  20% of all accounts would sink me, because of my 2 installments.    It's part of why I was asking about AZE 1 vs 2 - I know FICO2 is touchy, but I wasn't sure HOW touchy.   To be fair, I do have the tools to try to find out - I'm just fundamentally lazy about reinventing the wheel if someone else had figured it out.

The bank is SDFCU, and I know they're a bit more conservative, and I don't quite match up to their preferred customer (outside the area, not currently a gov't employee).   I am already a member, and I'm keeping that relationship active as possible, and keeping (what I think should be) enough money there to show that I am serious about their product.

Thank you so much for your reply!

[Remedios]

@calyx   Right now my sensitive, touchy EX FICO2 is 743, with single card reporting under 9%

In about 5 days, there will be two more cards reporting balances, so I'll let you know how it affected my score. I'll be at 3 out of 9 reporting, with aggregate around 3%-4%. No AU accounts. 

[calyx]

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@Remedios wrote:

@calyx   Right now my sensitive, touchy EX FICO2 is 743, with single card reporting under 9%

In about 5 days, there will be two more cards reporting balances, so I'll let you know how it affected my score. I'll be at 3 out of 9 reporting, with aggregate around 3%-4%. No AU accounts. 

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Thanks - I super appreciate it!

[Anonymous]

@Remedios Can you get the score at 2/9 and 3/9? Do you have credit works? If so that would be awesome! Because 2/9 put you over the 20% line so we should see an increase, if it’s revolvers. Do you have any installment open? If I may ask.

@Calyx No problem at all. I just hope everything works out perfectly for you. Yeah, sweet talking a couple days before the app might be the best course of action if you can decide to take that path!

When do you need to know this by? I might be able to go check some of my records to try to get some score changes too.

[Remedios]

Yes and no
I wont be able to get 2/9 and 3/9 separately as both cards are USB cards, so most likely will show up at the same time because of how they report, but I'll watch for it.
I should be able to get 4/9 separately once Chase reports on the 9th

[Remedios]

No open loans, closed ones only.

[calyx]

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@Anonymous wrote:

@Calyx No problem at all. I just hope everything works out perfectly for you. Yeah, sweet talking a couple days before the app might be the best course of action if you can decide to take that path!

When do you need to know this by? I might be able to go check some of my records to try to get some score changes too.

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I plan to app sometime in January 2020, so plenty of time.
If I get itchy finger - December at the earliest (I want my AOYA at minimum of 6months, which is 12/19, along with making sure that they see plenty of banking activity out of me as well).

Off to find out what the favorite meal is.    Something, something best way to a heart...

[Anonymous]

Smart!

[Remedios]

Okay, so looks like there was some aging involved so currently 

Fico 2 751

Fico 8 auto 759

Fico 2 auto 740

Fico  Bankcard 8  784

Fico Bankcard 3 726 

Fico Bankcard 2  738 

Next two should reflect update on 4th or 5th. Unfortunatly, both will show up at the same time.